UET United Electronic Technology AG releases consolidated financial results for the fiscal year 2020

• Consolidated revenues of 30.178 mn EUR
• EBITDA amounts to 0.497 mn EUR
• Earnings per share of -0.20 EUR
• Cash flow remains on 2019 level
• Guidance for first half of 2021: Profitable growth of Core Business by approx. 10%

 

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases its financial results for the fiscal year 2020.

Consolidated revenues of the UET Group amounted to EUR 30.178 million in the financial year 2020. (previous year: EUR 46.454 million).

The decline of revenues was caused by Covid-19 pandemic impacts related to the slowdown in installation of new network connections due to limitations and reduced customer access.

For the financial year, the UET Group reports EBITDA (earnings before interest, taxes, depreciation and amortization) in the amount of EUR 0.497 million (previous year: EUR 6.223 million). Earnings before interest and taxes (EBIT) amounted to EUR -2.388 million (previous year: EUR 3.624 million).

The net result after tax attributable to UET shareholders amounted to EUR -2.955 million in 2020. The corresponding earnings per share is EUR -0.20 (previous year: EUR 0.23).

The equity of UET as of December 31, 2020 reports to EUR 2.751 million (previous year: EUR 5.605 million).

The reported operating cash flow in 2020 was EUR -2.470 million compared with EUR -2.285 million in the previous year.

At the end of the financial year 2020, cash and cash equivalents in the UET Group amounted to EUR 5.048 million (previous year: EUR 4.036 million).

Outlook and Guidance 2021: In the first half of the current financial year 2021, revenues for deliveries and services increased in all areas. From January to June 2021, the expected sales will be around EUR 17.6 million, which corresponds to a growth in the core business of around +10%. Group earnings before interest, taxes, depreciation and amortization – EBITDA are expected to be around EUR 2.1 million. This represents an increase of around 210% compared to the same period in the previous year.

The Annual General Meeting will take place on August 19th, 2021 in Eschborn. The invitation to the Annual General Meeting will be published in the German Bundesanzeiger by July 12th, 2021.

The annual report and the annual group report 2020 (German version only) will be released on the company’s website (www.uet-group.com) under Investor Relations/Financial Reports as of June 30th, 2021.

 

Contact:

UET United Electronic Technology AG
Frankfurter Straße 80-82
D-65760 Eschborn

Sebastian Schubert
Investor Relations
Tel: + 49 (0) 6196 777755-0
E-Mail: investor@uet-group.com